Step By Step Guide to Mine Bit coins Properly

bit coinsThere are many ways to get wealth through the internet; one of the most popular ways is by getting some digital wealth through bit coin. You can buy and trade bit coin or you can mine for them. The term of mine bit coins is actually the process of verifying other bit coin transaction, which user is rewarded for. Bitcoin Mining
(https://mining.cex.io/) is significant process in Bitcoin economy and used to keep transactions secure and reliable. Today, I will provide you a step by step guide on how to mine bitcoins properly and earn some money in the process.

The first step is purchase custom mining hardware. In the past, you only need your desktop’s CPU and GPU. However, this way will absorb more electricity and make you pay electricity bill more than you earn. Therefore, you will need custom hardware to allow you mining bit coins without drowning your electricity bill. The custom mining hardware has similar forms as graphic card on computer. A good custom mining hardware brand is butterfly labs, Bitcoin ultra, counters and many more. The price of good custom mining hardware is varying from a few hundred dollars to tens of thousands depending on the capability of custom mining hardware.

The next step is getting a bit coins wallet. Bit coins wallet is a wallet to store your bit coins and protect your bit coins. There are two types of bit coins wallet, locally or online bit coins wallet. I recommend you to get local wallet for security reasons. Local wallets have blockchain that will secure your Bitcoin and keep them running, however synching blockchain can take a day or more. You can get wallet apps for your mobile device without downloading the entire block chain. Be careful with your wallet, because if you lose your wallet you will lose your money.

The next step is securing your wallet from other people. You will need to store the wallet on a computer that doesn’t have access to the internet to ensure protection to your wallet. Because anyone who has access to your wallet can use your coins, so you will need to store every bit coins on a computer without internet access.
The next step is determined between join a pool or you can go alone. You can join established pool or you can mine on your own. While pool will provide you share resources and split the rewards, mining alone can provide you everything you mine. For more information you can check  https://cex.io/.